Piper Sandler has initiated coverage on First Bancorp (FBNC, Financial), assigning it a Neutral rating and setting a price target of $48. The financial firm acknowledges First Bancorp's strong positioning to maintain robust returns and enhance shareholder value over time. Despite these positive attributes, First Bancorp's shares are currently trading at a premium, which suggests that further growth in valuation may be more challenging compared to its peers, according to the analyst's insights.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 3 analysts, the average target price for First Bancorp (FBNC, Financial) is $49.67 with a high estimate of $50.00 and a low estimate of $49.00. The average target implies an upside of 16.13% from the current price of $42.77. More detailed estimate data can be found on the First Bancorp (FBNC) Forecast page.
Based on the consensus recommendation from 4 brokerage firms, First Bancorp's (FBNC, Financial) average brokerage recommendation is currently 2.3, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for First Bancorp (FBNC, Financial) in one year is $39.11, suggesting a downside of 8.56% from the current price of $42.77. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the First Bancorp (FBNC) Summary page.
